Karras Company Inc. Invests $1.12 Million in The Allstate Corporation $ALL

Karras Company Inc. acquired a new position in The Allstate Corporation (NYSE:ALL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,383 shares of the insurance provider’s stock, valued at approximately $1,121,000. Allstate makes up about 1.1% of Karras Company Inc.’s investment portfolio, making the stock its 25th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Insight Inv LLC lifted its stake in shares of Allstate by 2.5% in the fourth quarter. Insight Inv LLC now owns 13,405 shares of the insurance provider’s stock worth $2,790,000 after buying an additional 325 shares during the last quarter. Evoke Wealth LLC lifted its stake in shares of Allstate by 3.1% in the fourth quarter. Evoke Wealth LLC now owns 2,308 shares of the insurance provider’s stock worth $483,000 after buying an additional 70 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Allstate by 1,343.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 60,498 shares of the insurance provider’s stock worth $12,593,000 after buying an additional 56,307 shares during the last quarter. Van Hulzen Asset Management LLC lifted its stake in shares of Allstate by 58.5% in the fourth quarter. Van Hulzen Asset Management LLC now owns 3,060 shares of the insurance provider’s stock worth $637,000 after buying an additional 1,130 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Allstate by 97.6% in the fourth quarter. Global Retirement Partners LLC now owns 6,085 shares of the insurance provider’s stock worth $1,267,000 after buying an additional 3,006 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALL. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.67.

Allstate Price Performance

NYSE:ALL opened at $216.64 on Friday. The stock has a market cap of $55.77 billion, a P/E ratio of 4.78, a PEG ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The company has a fifty day moving average price of $212.27 and a 200 day moving average price of $208.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the company posted $3.53 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 29.22 earnings per share for the current year.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.